BDA Advises CUC Inc. on Acquisition of Beyond Podiatry

Jan 30, 2024 | Business

 BDA Partners is pleased to announce that its client, CUC Inc, a subsidiary of M3 Inc, has agreed to acquire 79.25% of Albaron Podiatry Holdings LLC. Albaron operates a leading podiatry service platform under the name Beyond Podiatry.

Beyond Podiatry is a leading podiatry practice group in the Midwestern USA, dedicated to providing practitioners with advanced support, enabling podiatrists to concentrate on patient care and delivering a unique, focused, customized experience for patients.

Since its establishment in 2018, Beyond Podiatry has steadily expanded its footprint in podiatry practices through M&A and launching new clinics. It recently initiated a related clinical practice specializing in the treatment of varicose veins.

CUC Inc was established in Japan in 2014 to provide operational support and consulting services to home healthcare institutions as a subsidiary of M3 Inc, a leading Japanese provider of internet medical services, primarily for physicians and other healthcare professionals. CUC started its international expansion mainly into SE Asia in 2019, with the mission “Creating Hope through Healthcare.” CUC now operates and supports hospitals, home hospices, pediatric and dialysis clinics at over 100 locations in Japan, Indonesia, and Vietnam.

CUC’s objective is to support and strengthen the operational capacities of Beyond Podiatry as a premier practice management platform, using CUC’s know-how from management support for medical institutions in Japan. Following this transaction, Beyond Podiatry will maintain its operations under the direction of its current management team and several directors dispatched from CUC.

BDA Partners acted as the exclusive financial advisor to CUC Inc.
Jeff Acton, Partner, BDA, said, “We’re excited to advise CUC on this transaction and help the company expand, in business scope and into the US market. We believe this transaction is a great example of growing cross-border opportunities in the HealthTech and Healthcare sectors. Assisting Japanese companies in outbound M&A represents an important line of business for BDA.”

Alex Ditchfield, Managing Director, BDA, said “We’re happy to have helped create this transaction; we believe CUC is the ideal partner for Beyond Podiatry. CUC and Beyond Podiatry both bring deep industry experience, and exceptional management teams. Beyond Podiatry will continue on its bright growth path, delivering exceptional patient treatment and care.”

Andrew Huntley, Managing Partner and Head of Global Healthcare, BDA, said, “This deal for CUC in podiatry continues an active recent flow of successful transactions for BDA’s clients in the specialty clinics space, which also includes the dental, pediatric, orthopedic, OBGYN, and oncology specialties.”

Deal team
Jeff Acton, Partner, Co-Head of Tokyo, Head of Technology Tokyo
Alexander Ditchfield, Managing Director, New York
Stephen Etna, Vice President, New York
Olivia Feng, Associate, New York
Dai Yamabe, Associate, Tokyo
Colton Bucey, Analyst, New York

About CUC Inc
CUC Inc is a Japanese company, providing operational support and consulting to home healthcare institutions in a wide range of healthcare businesses. CUC Inc operates and supports hospitals, home hospices, pediatric and dialysis clinics at over 100 locations in Japan, Indonesia, and Vietnam. www.cuc-jpn.com/en/

About Beyond Podiatry
Beyond Podiatry is a leading network of more than 30 podiatry and vein clinics across Michigan, Illinois, Ohio, Kentucky, and Indiana, under various brands. The company provides patients with the most advanced and comprehensive foot and ankle treatment options, including foot and ankle trauma, diabetic wounds, fractures, infections, sports injuries, plantar fasciitis, bunions, arthritis. The company treats over 125,000 patients per year. www.beyond-podiatry.com

About BDA Partners
BDA Partners is the global investment banking advisor for Asia. We are a premium provider of Asia-related advice to sophisticated clients globally, with over 25 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul, and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, Sustainability and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes.

BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese Government-owned bank with US$150bn of assets. www.bdapartners.com

BDA Partners
Euan Rellie
212-265-5300
www.bdapartners.com

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  • Mergers & Acquisitions
  • Orthopedics & Rehabilitation

Japan – MHI Completes Acquisition of Concentric, LLC

Oct 4, 2023 | Business

Mitsubishi Heavy Industries, Ltd. (MHI) completed the acquisition of 100% of Concentric, LLC, a top provider of industrial power solutions in North America, from OnPoint Group on October 2.

Concentric will take steps under its new ownership as a member of the MHI Group to promote zero emissions, energy conservation and electrification with the aim of improving the service provided to customers of its North American data centers, logistics warehouses and industrial facilities. It will also utilize the cutting-edge technology and knowledge gained through its partnership with MHI to provide sustainable power solutions.

As the world transitions to digital technology, demand for data centers is growing, and the industry is grappling with the issue of how to adopt zero emission power sources and conserve energy. MHI Group aims to solve this issue by providing total energy solutions that offer data centers a one-stop service encompassing power systems, cooling systems, and control and monitoring.

Concentric’s maintenance and service functions will be key to ensuring efficiency and sustainability throughout the whole system and adapting quickly to changes in customers’ needs. MHI is confident that forming an alliance with a company that has a customer network spanning the entirety of North America will be a major step toward energy optimization in data centers and logistics warehouses, leading to a reduction in CO2 emissions.

As a member of MHI Group, Concentric will meet customers’ expectations to an even higher level and strengthen its response to social and environmental issues. Together, MHI and Concentric will utilize their respective technologies and know-how to provide cutting-edge solutions for customers not only in North America but around the world.

About ConcentricFounded in 2000 and headquartered in Carrolton, Texas, Concentric is a full-lifecycle power system solutions provider with bases across North America. The company’s signature solutions, GuaranteedPOWER® and PerpetualPOWER® are industry firsts, enabling leading facilities from manufacturers, distributors to data centers to improve safety and consistency through a fixed cost program delivering 30% average total cost savings. For details, see concentricusa.com.

About MHI Group

Mitsubishi Heavy Industries (MHI) Group is one of the world’s leading industrial groups, spanning energy, smart infrastructure, industrial machinery, aerospace and defense. MHI Group combines cutting-edge technology with deep experience to deliver innovative, integrated solutions that help to realize a carbon neutral world, improve the quality of life and ensure a safer world. For more information, please visit www.mhi.com or follow our insights and stories on spectra.mhi.com.

Copyright ©2023 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

CCI approves acquisition of equity securities amounting up to 10% in YES Bank by Verventa Holdings

Oct 21, 2022 | Business


The Competition Commission of India (CCI) approves acquisition of equity securities amounting up to 10% in YES Bank by Verventa Holdings


Verventa Holdings Ltd. (Acquirer) is an investment holding company. Currently, it does not have any operations in India.


YES Bank Limited (Target) is a banking company engaged in providing a wide range of banking and financial services.


The Commission approved the Proposed Combination relating to the acquisition of equity securities amounting to up to 10% of the total paid up share capital and voting rights of the Target by the Acquirer (Proposed Combination).


Detailed order of the CCI will follow.


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CCI Approves Acquisition of Citrix Systems, Inc.

Jul 5, 2022 | Business


The Competition Commission of India (CCI) has  approved the acquisition of Citrix Systems, Inc. (Citrix) by funds managed by Vista Equity Partners Management, LLC (Vista) and funds and investment vehicles managed by Elliott Investment Management L.P. (Elliott)


The proposed combination relates to acquisition of Citrix by funds managed by Vista and funds and investment vehicles managed by Elliot approved by the Commission in its meeting held on 17th June, 2022. The proposed combination will be implemented pursuant to an Agreement and a Plan of Merger entered into and among Citrix, Picard Parent, Picard Merger Sub, Inc. (a wholly owned subsidiary of Picard Parent) and TIBCO Software Inc. (TIBCO). Specifically, TIBCO, a Vista controlled portfolio company will combine with Citrix, and Vista and Elliott will ultimately acquire joint control of the combined Citrix/TIBCO business.


The names of the parties to the combination are:


(a) Elliott Alto Aggregator GP LLC (Elliott Aggregator)


(b) Picard Parent, Inc (Picard Parent);


(c) Picard HoldCo LLC (Holdco); and


(d) Citrix Systems, Inc. (Citrix).


Vista and Elliott have been collectively referred as Acquirers. The Acquirers and Citrix are collectively referred to as the Parties.


Vista is a US-based investment firm focused on empowering and growing enterprise software, data and technology-enabled businesses. Vista controls a number of portfolio companies that are active in the provision of IT services such as the provision of business software.


Elliott is a US-based investment firm whose flagship fund, Elliott Associates, L.P., was founded in 1977. Elliott employs a multi-strategy trading approach that encompasses a broad range of strategies, including, without limitation: equity-oriented, private equity and private credit, distressed securities, non-distressed debt, hedge/arbitrage, real estate-related securities, commodities trading and portfolio volatility protection.


Citrix is a multinational enterprise software company headquartered in Florida, United States of America. Citrix is focused on helping organisations deliver a consistent and secure work experience. Citrix delivers a digital workspace solution that provides unified, reliable and secure access to all work resources (apps, content, etc.) and simplifies work execution and collaboration across every work channel, device, and location. Broadly, Citrix is mainly active in (i) desktop virtualization space, (ii) workspace solutions, and (iii) networking and IT security software.


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IBI Announces Acquisition of Strategic Property Investment in Europe

May 28, 2022 | Business

IBI Group Holdings Limited (“IBI” or the “Group”; Stock Code: 1547), an investment holding company which specialises in the built environment including subsidiaries providing contracting services, distribution of high-tech and innovative building products including energy efficient lighting and air quality monitoring devices, has concluded the acquisition of a strategic property investment in Dublin, Ireland (“Acquisition”), through its indirect subsidiary, IBI International Investment Holdings Limited (“IBI International Investment” or the “Company”) at the consideration of approximately HK$113 million.

IBI has acquired Adelaide Chambers within the heart of Dublin city centre’s central business district for strategic investment purposes

The Group has been looking in detail at a wide range of investment opportunities to generate stable cash flow and income. The Acquisition is a multi-tenanted period building located at Adelaide Chambers, Adelaide Square, Peter Street, Dublin 8, Ireland (“Property”) within the heart of Dublin city centre’s central business district, situated 400-metres West of St. Stephens Green. With a 4-storey over basement and modern 4-storey extension to its eastern side, the Property provides over 19,600 sq. ft. of commercial office space and 31 basement car parking spaces. The Group believes there is significant potential for capital appreciation of the Property in the future, as a result of property upgrading works and lease renewals.

Mr. Neil Howard, Chairman and CEO of IBI, said, “We have been exploring a wide variety of strategic investment opportunities that will bring significant additional value to the Group and our shareholders. Leveraging our strong financial position, we believe the Acquisition is an excellent opportunity for IBI to enter the property investment sector in Ireland, one of Europe’s major commercial and tourist centres. Given the economic importance of Dublin’s central business district and the development prospects of the Property, we are confident and pleased that the Acquisition will generate an additional, stable stream of income for the Group.

About IBI Group Holdings Limited (stock code: 1547)
IBI Group Holdings Limited is a listed holding company on the Main Board of the Hong Kong Stock Exchange and the Group is principally focused on investments in the built environment. The core investment sectors of the Group include a building and fitting-out contractor, a business providing innovative and energy efficient lighting and air quality monitoring products and, an investment entity looking at opportunities in property development and other built environment opportunities. The mission of the Group is to deliver premium products, services and customer experiences with a strong influence of innovation, sustainability and environmental sensitivity.

For more information, please refer to IBI’s website: https://ibighl.com/.






Topic: Press release summary